Norway headquartered REC Group has become the latest solar manufacturer to post increased module shipments for the third quarter of 2017, as global demand continues to be buoyed by massive installations in China and a rush for U.S. projects to procure modules.
The German PV equipment manufacturer has posted financial results for the first nine months of 2017, projecting a protracted investment cycle for CIGS thin-film production. The company expects another prepayment from its major Chinese customer CNBM by the year’s end.
Leading module manufacturer Canadian Solar posted revenue of $912 million for the third quarter of 2017, significantly above the figure of $692 million for the previous quarter. The company also saw quarterly shipments rise to 1.87 GW.
Sunrun installed only 17% less solar than Tesla/SolarCity during Q3, as the only of the big three residential solar companies that is still growing.
Revenue for the Israeli power electronics company rises 22% sequentially in third quarter to reach $166.6 million. More than 676 MW of inverters shipped helped drive gross margin of 34.9%.
Already managing one of the largest solar investment funds in Europe, Octopus Investments has added an additional GBP 80 million, and acquired a further 100 MW solar project.
Third quarter financial update sees strong growth in Asia but weak U.S. large-scale project demand drags on overall sales. Order backlog increases 25% to €350m.
The U.S. microinverter specialist posted losses of $6.9 million in the third quarter but did manage to increase its revenue sequentially by 3% to $77 million.
While China accounted for three-quarters of the investment reduction in clean energy in 2016, other non-OECD countries spent 25% less on renewables last year compared to 2015, according to BNEF and Climatescope data. 2009’s Copenhagen pledge by richer countries to support developing world also falling short.